According to highly credible sources, property in Bangalore seems to be resistant to the aches and pains of demonetization that gripped most of Indian realty since November 8th of last year.
Real estate publications have concluded that the IT capital of India, along with Pune, and Mumbai accounted for nearly sixty percent of the new inventory sold across the country. In Bangalore, since demonetization the launch of new projects has risen by nearly fifteen percent and the price of houses has appreciated by three percent since. The statistics bear out the fact that Real estate in Bangalore is not only weathering the demonetization storm well, but rather, it could be stated that Bangalore property is thriving while the real estate markets in most other regions of India languish.
Many experts believe that Bangalore property is shining while the property markets in other regions are suffering because the image property in Bangalore commands, in the minds of buyers and investors, is superior to that commanded by other cities.
Numerous think tanks across India and the world have great things to say about the city of Gardens and the unchallenged IT capital of India. Bangalore, the capital of Karnataka, and the home of most Indian IT giants, was recently accorded the title of the most dynamic city in the world. While such a tag may seem premature, it is highly relevant as Bangalore is a true cosmopolitan metropolis that is mixture of the urban and rural, modern and traditional, and where the technology industry is as vibrant and cutting edge as in Silicone Valley. TopBuilders in Bangalore have global aspirations and have undertaken some of the most lavish projects in the country here.
One of the premier consultants in the world, have ranked Bangalore, the twelfth most attractive city among global cities in the world, pertaining to attractiveness for the purpose of investment. Bangalore property was also ranked fifteenth globally for real estate development projects. Additionally Bangalore was also ranked 20th globally for being a technology rich city by a leading consultancy.
Thus real estate rojects in Bangalore did not suffer, as greatly due to demonetization as did projects in other cities across India.
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Post By Shrikant Sain